Independent manufacturing undertaking eligibility preserves Section 80IA/80IB deductions, while machinery kept ready for use qualifies for depreciatio...
Assessing Officer Satisfaction Requirement Bars Penalty for Cash Receipt in Immovable-Property Sale Cases Where Initiation Lacks Recorded Satisfaction...
Self-assessed import entries remain appealable, while bona fide classification disputes without misdeclaration cannot justify confiscation or penaltie...
Actual-user customs exemption conditions permit turnkey project transfers when imported windmill components are exclusively used for installation and ...
Customs offence disqualification excludes civil contraventions, preventing refusal of a private bonded warehouse licence based solely on monetary pena...
HC ruled petitioner's arrest for money laundering under PMLA illegal. Court found ED failed to establish "reason to believe" standard required under Section 19(1) PMLA. No tangible evidence demonstrated petitioner's involvement in illegal sand mining operations or financial transactions with proceeds of crime. ED's investigation lacked proof of petitioner's share deposits in mining bids or direct participation in money laundering activities. While petitioner acknowledged financial dealings with AMPL, prosecution failed to establish connection to proceeds of crime or involvement in concealment, possession, or projection of untainted property. Court emphasized arrest power under PMLA requires substantive evidence of guilt, not merely investigative purposes. Petition granted, arrest declared violation of Section 19(1) PMLA safeguards.
HC ruled petitioner's arrest for money laundering under PMLA illegal. Court found ED failed to establish "reason to believe" standard required under Section 19(1) PMLA. No tangible evidence demonstrated petitioner's involvement in illegal sand mining operations or financial transactions with proceeds of crime. ED's investigation lacked proof of petitioner's share deposits in mining bids or direct participation in money laundering activities. While petitioner acknowledged financial dealings with AMPL, prosecution failed to establish connection to proceeds of crime or involvement in concealment, possession, or projection of untainted property. Court emphasized arrest power under PMLA requires substantive evidence of guilt, not merely investigative purposes. Petition granted, arrest declared violation of Section 19(1) PMLA safeguards.
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